Hero MotoCorp to raise prices of bikes and scooters from next month

Hero MotoCorp, the world’s largest two-wheeler manufacturer, said it will increase the price of its two-wheelers from October 3.

The prices of its motorcycles and scooters could go up by up to Rs 900 per unit.

“The revision has been necessitated by the increasing commodity costs and currency depreciation.

“The price hike will translate to an increase of up to Rs. 900, although the exact quantum of the increase will vary, basis the model and the specific market,” it said.

Hero Honda started its operations in 1984 as a joint venture between Hero Cycles and Honda of Japan.

The company became extremely successful in the market by offering two-wheelers with fuel economies of up to 80 km per liter when most of its rivals were selling products with fuel economies of around 45-60 km per liter.

The joint venture ended in 2010, with the Hero Group, led by the Munjal family, buying out Honda, which floated its own independent operations in India.